The Vicious Circles of Control : Regional Governments and Insiders in Privatized Russian Enterprises

How can one account for the puzzling behavior of insider-managers who, in stripping assets from the very firms they own, appear to be stealing from one pocket to fill the other? The authors suggest that such asset-stripping and failure to restructu...

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Bibliographic Details
Main Authors:	Desai, Raj M., Goldberg, Itzhak
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	AFFILIATE AGRICULTURE ARBITRAGE ASSET STRIPPING AUCTIONS BALANCE SHEETS BANK ACCOUNTS BANK LOANS BANKRUPTCY BANKRUPTCY PROCEDURES BANKRUPTCY PROCEEDINGS BANKS CAPITAL GAINS CAPITAL MARKETS CASH BENEFITS CASH FLOWS CASH PAYMENTS CASH-FLOW COALITIONS COMMUNIST COMMUNIST PARTY CONSOLIDATION CORPORATE FINANCE CORPORATE GOVERNANCE DEBT DECREE DECREES DEVOLUTION DISINTERMEDIATION DIVIDENDS ECONOMIC CHANGE ECONOMIC GROWTH ECONOMIC TRENDS ECONOMIES IN TRANSITION EMPLOYMENT ENFORCEABLE PROPERTY RIGHTS ENTERPRISE OWNERSHIP ENTERPRISE REFORM ENTERPRISE RESTRUCTURING EXPENDITURES FEDERAL BUDGETS FEDERAL GOVERNMENT FINANCIAL SECTORS FISCAL FISCAL SITUATION FOREIGN DIRECT INVESTMENT FREE MARKETS GDP GOVERNANCE FAILURES GOVERNMENT AUTHORITY GOVERNMENT INTERVENTION GOVERNMENT OFFICIALS GOVERNMENTAL POLICY HARD BUDGET CONSTRAINTS HOLDING COMPANIES ILLIQUIDITY INCOME INSOLVENCY INSOLVENT INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL CHANGE INSTITUTIONAL CONSTRAINTS LABOR MARKETS LABOR PRODUCTIVITY LAWS LEASED ASSETS LEGISLATION LEGISLATORS LIQUIDATION LOCAL AUTHORITIES LOCAL ENTERPRISES LOCAL GOVERNMENTS MIDDLE INCOME COUNTRIES MUNICIPAL GOVERNMENTS NET WORTH NEW ENTRANTS OFFSHORE BANKING OIL OWNERSHIP STRUCTURE POLICY PREFERENTIAL TAX TREATMENT PRIVATE OWNERSHIP PRIVATE PROPERTY PRIVATIZATION PRODUCTIVE ASSETS PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC FINANCES PUBLIC PROCUREMENT QUOTAS REAL SECTOR REDEMPTION REPRESENTATIVES RETURN ON INVESTMENT SAFETY NETS SECURITIES SHAREHOLDERS SOCIAL POLICY SOCIAL SERVICES SOFT BUDGET CONSTRAINTS STATE AGENCIES STATE ENTERPRISES STATE POWER STOCKHOLDERS STREAMS SUBSIDIARIES SUBSIDIARY TAKEOVER TAX ARREARS TAX AUTHORITIES TAX COLLECTIONS TAX PAYMENTS TAX REVENUES TAXATION TRADE UNIONS TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT VOTING VOUCHER PRIVATIZATION WEALTH WORLD POLITICS
Online Access:	http://documents.worldbank.org/curated/en/2000/02/438380/vicious-circles-control-regional-governments-insiders-privatized-russian-enterprises http://hdl.handle.net/10986/22338

Internet

http://documents.worldbank.org/curated/en/2000/02/438380/vicious-circles-control-regional-governments-insiders-privatized-russian-enterprises
http://hdl.handle.net/10986/22338

The Vicious Circles of Control : Regional Governments and Insiders in Privatized Russian Enterprises

Internet

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